Unified API
TechnologyDefinition
A Unified API is a single API that normalises access to multiple underlying providers (e.g. many banks or many data sources). API aggregators and TSPs often offer a Unified API so that integrators connect once and can reach many banks or endpoints through one integration, with consistent data shapes and auth flows. Reduces integration and maintenance effort compared to connecting to each provider separately.
Related Terms
API Aggregator
An API Aggregator is a service provider that consolidates multiple bank APIs into a single, unified ...
TSP
Technical Service ProviderTechnical Service Providers are companies which work with regulated providers to deliver Open Bankin...
API
Application Programming InterfaceAn Application Programming Interface is a set of routines, protocols, and tools for building softwar...
Frequently Asked Questions
What is Unified API?
A Unified API is a single API that normalises access to multiple underlying providers (e.g. many banks or many data sources). API aggregators and TSPs often offer a Unified API so that integrators connect once and can reach many banks or endpoints through one integration, with consistent data shapes and auth flows. Reduces integration and maintenance effort compared to connecting to each provider separately.
What does Unified API stand for in Open Banking?
Unified API is a key term in the Open Banking ecosystem. A Unified API is a single API that normalises access to multiple underlying providers (e.g. many banks or many data sources). API aggregators and TSPs often offer a Unified API so that integrators connect once and can reach many banks or endpoints through one integration, with consistent data shapes and auth flows. Reduces integration and maintenance effort compared to connecting to each provider separately.
How does Unified API relate to Open Banking?
Unified API is a key concept in the Open Banking ecosystem, falling under the Technology category. A Unified API is a single API that normalises access to multiple underlying providers (e.g. many banks or many data sources). API aggregators and TSPs often offer a Unified API so that integrators connect once and can reach many banks or endpoints through one integration, with consistent data shapes and auth flows. Reduces integration and maintenance effort compared to connecting to each provider separately.
More Technology Terms
API
Application Programming InterfaceAn Application Programming Interface is a set of routines, protocols, and tools for building softwar...
API Data
API Data is data made available to an API User or a TPP through the APIs. This includes account info...
LOS
Loan Origination SystemA Loan Origination System (LOS) is software that manages the end-to-end lending lifecycle: applicati...
OAO
Online Account OpeningOnline Account Opening (OAO) is digital onboarding that lets a customer apply for and open a new dep...
OLB
Online BankingOnline Banking (OLB) is the digital banking channel where customers or members sign in to view balan...
Open API
Open API / Public APIAn Open API or Public API is a free-to-use, publicly available application programming interface tha...
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